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All signs point to the Cleveland Cavaliers being the team to beat in the Eastern Conference for the foreseeable future.

The Cavaliers and Minnesota Timberwolves have agreed in principle on a deal that would send All-Star forward Kevin Love to Cleveland in exchange for Andrew Wiggins, Anthony Bennett and a protected 2015 first-round pick, Yahoo! Sports’ Adrian Wojnarowski reported Thursday, citing league sources.

And, the kicker: Love reportedly has committed to opt out of his contract at the end of this season and sign a new, five-year deal worth upward of $120 million that would keep him in Cleveland for the long haul.

The reported trade, which cannot be made official until Aug. 23, would create a new “Big Three” of Love, LeBron James and Kyrie Irving, and allay fears of Love bolting when his current contract expires. Wojnarowski’s sources say the Cavs also were motivated by the prospect of the T-Wolves star instead joining the Chicago Bulls, which look to be their primary competition in the East, especially following the injury to Indiana Pacers star Paul George.

Wojnarowski reports that no additional teams are involved in the trade, which runs contrary to a previous report that Philadelphia 76ers forward Thaddeus Young also likely would be moved as part of the deal.